Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold Announces Assays Up to 479.5G/T Au in Surface Samples From Golden Glove

Labrador Gold Corp.
Labrador Gold Corp.

Figure 1.

Portion of Sample 853601 showing visible gold grains in quartz and country rock.
Portion of Sample 853601 showing visible gold grains in quartz and country rock.

Figure 2.

Location map of Kingsway gold occurrences showing recent results at Golden Glove.
Location map of Kingsway gold occurrences showing recent results at Golden Glove.

TORONTO, Aug. 23, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce assays from six samples containing visible gold recently collected during prospecting in the Golden Glove area at its 100% owned Kingsway Project. The samples were collected as part of the Company’s continuous efforts to generate and upgrade targets for drilling along the 12km strike length of the Appleton Fault Zone covered by the Kingsway Property.

The samples were taken from quartz veins believed to be splays off the original Golden Glove vein. Assays of the six samples ranged from 7.51 g/t to 479.51 g/t Au. The quartz veins are hosted by grey and black shales and are typically vuggy and locally stylolitic with iron carbonate alteration. The four highest grade samples contain visible gold, and all samples contain between 2 and 5% pyrite and arsenopyrite both in the vein and along the contact with the shale wallrock. These results are comparable to assays from the initial samples taken at Golden Glove that ranged from 2.99 to 338.08g/t Au (see news release dated September 21, 2021).

“The discovery of more veins containing high-grade gold at surface is encouraging as it gives us additional information on the structural context of the mineralization at Golden Glove and will allow more efficient drill targeting.” said Roger Moss, President and CEO. “Drilling to date has been following up recent high-grade intersections of 20.07 g/t Au over 1m in Hole K-22-154 and 6.22 g/t Au over 4m in hole K-22-150 located approximately 160m south of the discovery outcrop. Given the high-grade nature of these veins we will certainly look to specifically target them in our ongoing drilling at Golden Glove.”

Sample
ID
Sample
type
Rock TypeAu (g/t)
853601*GrabQuartz Vein479.51
853602*GrabQuartz Vein81.49
853603*GrabQuartz Vein114.72
853604*GrabQuartz Vein34.90
853605GrabQuartz Vein7.51
853606GrabQuartz Vein12.25

* Sample contains visible gold. Note that grab samples are select samples and
are not necessarily representative of gold mineralization found on the property.

Figure 1. Portion of Sample 853601 showing visible gold grains in quartz and country rock.
https://www.globenewswire.com/NewsRoom/AttachmentNg/535e38c4-278d-4f70-8798-e2338a3eae1a

Figure 2. Location map of Kingsway gold occurrences showing recent results at Golden Glove.
https://www.globenewswire.com/NewsRoom/AttachmentNg/fea783dc-89b0-40f2-9eb0-46afd5858897

QA/QC

All samples are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples were assayed by metallic screen/fire assay. The whole sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened through 150mesh. Both the +150mesh fraction and a 30g subsample of the -150mesh fraction are fire assayed for Au and a calculated weighted average of total Au in the sample is reported. The company routinely submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

Qualified Person

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $25 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.

The Company has 169,189,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB and on the OTCQX under the symbol NKOSF.

For more information please contact:     

Roger Moss, President and CEO      Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @LabGoldCorp

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Categories
Junior Mining Labrador Gold Precious Metals Uncategorized

Labrador Gold Announces Receipt of Drill Permit for Appleton Fault Targets, Mobilzes Drill

Figure 1.

Location of planned drilling area along the Appleton Fault Zone.
Location of planned drilling area along the Appleton Fault Zone.
Location of planned drilling area along the Appleton Fault Zone.

TORONTO, Oct. 18, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the receipt of Exploration Approval for diamond drilling of regional Appleton Fault Zone targets at its 100% controlled Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District.

LabGold has mobilized a drill rig to the first target, located approximately 800m northeast of Big Vein (see Figure 1) and the Company expects drilling to begin this week. Initial drilling will take place up ice from where a significant number of pristine gold grains in till were found earlier this year (see news release dated August 5, 2021). Follow up exploration by the LabGold team has demonstrated the potential of this area and defined drill targets will be systematically drilled over the coming weeks. This is one of several gold anomalies comprising the “string of pearls” along the Appleton Fault Zone that are in various stages of advancement.

Figure 1. Location of planned drilling area along the Appleton Fault Zone.
https://www.globenewswire.com/NewsRoom/AttachmentNg/bc35e9ae-53c8-402c-bc50-f239e27497ad

“We are very excited to begin drilling the most advanced of six prospective gold targets that we have generated and are currently exploring along the Appleton Fault Zone,” said Roger Moss, President and CEO of Labrador Gold. “We know this is a very productive fault and the LabGold team has worked hard to get this target to the drill stage. With discoveries first at Big Vein, and more recently at Golden Glove, this anomalous area is next in line for a potential discovery. Now that we have the permit in place, we look forward to testing targets over a four km strike length of the Appleton Fault Zone northeast of Big Vein.”

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold

Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $34 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.

The Company has 152,912,462 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @LabGoldCorp

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.

Categories
Junior Mining Labrador Gold Precious Metals

Labrador Gold Samples 338 g/t Au in New Discovery at Golden Glove 3.5km South of Big Vein

Labrador Gold Corp.Tue, September 21, 2021, 8:00 AMIn this article:

Figure 1

Location of the Golden Glove visible gold occurrence together with other prospective gold targets along the Appleton Fault Zone.
Location of the Golden Glove visible gold occurrence together with other prospective gold targets along the Appleton Fault Zone.
Location of the Golden Glove visible gold occurrence together with other prospective gold targets along the Appleton Fault Zone.

Figure 2

Samples from Golden Glove containing visible gold.
Samples from Golden Glove containing visible gold.
Samples from Golden Glove containing visible gold.

Highlights

  • Rock chip assays from the new discovery include 338.08 g/t Au, 194.28 g/t, 193.69 g/t and 83.61 g/t Au confirming the presence of high-grade epizonal gold in a second location on the Kingsway property
  • This further demonstrates the significant potential for high-grade near surface gold mineralization to be found along the Appleton Fault Zone
  • Golden Glove lies on the southeast side of the Appleton Fault Zone similar to gold occurrences to the south of Kingsway

TORONTO, Sept. 21, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce high-grade assay results from samples collected at a brand new discovery, the Golden Glove, located approximately 3.5km south of Big vein, part of its 100% controlled Kingsway Project near Gander, Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District.

Assays of six grab samples taken from an outcrop of mineralized quartz vein range from 2.99 to 338.08g/t Au. The three highest grade samples contained visible gold. A sample of quartz vein float approximately 60 metres to the northeast of the visible gold outcrop assayed 2.16g/t Au. Highlights of the results are given below.

Sample #Sample TypeSample TypeRock TypeAu (g/t)
709307outcropfloatQuartz vein2.16
709253outcropGrab*Quartz vein with visible gold338.08
709252outcropGrabQuartz vein with visible gold194.28
709251outcropGrabQuartz vein with visible gold193.69
709010OutcropGrabQuartz vein with py, apy and cpy6.34
709009OutcropGrabQuartz vein with py, apy and cpy83.61
555963OutcropGrabQuartz Vein with py2.99

Abbreviations: py pyrite, apy arsenopyrite, cpy chalcopyrite *Note that grab samples are select samples and are not necessarily representative of gold mineralization found on the property.

The Golden Glove discovery is located adjacent to the Appleton Fault Zone approximately 3.5km southwest of Big Vein. Unlike Big Vein, it is located on the southeast side of the Appleton Fault Zone, similar to the Keats, Golden Joint and Lotto occurrences on New Found Gold’s Queensway property immediately to the south.

“The discovery of high-grade gold mineralization at Golden Glove is the result of our systematic approach to exploration at Kingsway. Golden Glove is just one of six prospective gold targets, excluding Big Vein, that we have generated and are currently exploring along the Appleton Fault,” said Roger Moss, President and CEO of Labrador Gold. “We continue to advance these targets and generate new ones along the entire 12km length of the Appleton Fault covered by the Kingsway Project. This is the second new discovery made by LabGold on the Kingsway project following the discovery of Big Vein late last year. We anticipate making further discoveries as we continue to explore what appears to be a very productive fault zone.”

Figure 1. Location of the Golden Glove visible gold occurrence together with other prospective gold targets along the Appleton Fault Zone.
https://www.globenewswire.com/NewsRoom/AttachmentNg/73bedc9c-55cf-454d-a8e9-5bfb71de552e

Figure 2. Samples from Golden Glove containing visible gold.
https://www.globenewswire.com/NewsRoom/AttachmentNg/f7b86958-8832-49ae-a78b-2e9929eb0bce

QA/QC

Samples were shipped to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples were analyzed for gold by whole sample metallic screen/fire assay or by standard 30g fire assay with ICP (inductively coupled plasma) finish. The company submits blanks, field duplicates and certified reference standards at a rate of approximately 5% of the total samples in each batch.

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold

Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $34 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.

The Company has 152,912,462 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter: @LabGoldCorp

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.